Electronic commerce, commonly abbreviated as e-commerce, refers to the conduct and facilitation of business activities using electronic communication and technology. It involves the buying and selling of goods, services, and information over the internet or other computer networks.
E-commerce encompasses a wide range of activities, including online shopping, electronic banking, online auctions, and electronic ticketing. It enables individuals, businesses, and organizations to engage in various commercial transactions with ease and efficiency, regardless of geographical boundaries.
In e-commerce, transactions are typically conducted electronically using secure platforms, such as websites or mobile applications. Customers can browse through a virtual storefront, choose products or services, and make purchases using electronic payment methods, such as credit cards, electronic funds transfers, or digital wallets.
One of the key advantages of e-commerce is its ability to facilitate business transactions 24/7, without the limitations of traditional brick-and-mortar stores. It offers convenience and flexibility to both businesses and consumers, as it eliminates physical barriers and allows for easy comparison shopping and access to a global marketplace.
E-commerce also involves various supporting activities, such as online advertising, supply chain management, and electronic data interchange (EDI). It has transformed the way businesses operate and interact with customers, opening up new opportunities for growth, efficiency, and innovation in the digital age.
Overall, electronic commerce has revolutionized the way goods and services are bought and sold, bringing convenience, speed, and global reach to the world of business.
